A Palm Beach developer seeking to take advantage of the extraordinarily hot market listed his spec mansion for $84 million.
The estate at 901 North Ocean Boulevard is next door to 905 North Ocean Boulevard, which billionaire David Tepper, founder of Appaloosa Management and owner of the Carolina Panthers, is in contract to buy for about $73 million. It’s also less than a mile away from 535 North County Road, which private equity mogul Scott Shleifer acquired for more than $120 million last week, a record for home sales in Florida.
Developer Clark Beaty is listing his newly built spec house two years after listing the land with plans for $55 million, according to the Wall Street Journal. The $84 million price tag includes furniture.
The property spans about 15,000 square feet and features a pool, wine cellar, gym, media room and guest house. It has five bedrooms. Records show that a Beaty-led LLC paid $14.6 million for the 1.1-acre lot in 2017.
Palm Beach luxury home sales, defined as the top 10 percent of the market, increased by 113 percent in the fourth quarter, according to Douglas Elliman.
[WSJ] – Katherine Kallergis